Press release
Commercial Drones Market: Rising Demand for High Quality Images and Videos to Augment Growth
Transparency Market Research has estimated that the market value of the global commercial drones market will reach US$8.89 bn by the end of 2025 from its valuation of US$2.8 bn in 2016. The market is anticipated to expand at an impressive CAGR of 13.8% for the forecast period 2015-2023.
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Based on type, the global commercial drones market can be segmented into hybrid, fixed wing, single rotor, multi-rotor, and others. Among these, the multi-rotor segment contributed the major share, accounting over 33.2% in 2016 in the overall market. Regionally, the global market is segmented into the Middle East and Africa, Asia Pacific, Europe, Latin America, and North America. Of these, the North America market held the leading share in the market contributing 35% to the global market in 2016.
Integration of AR and VR offers Significant Growth Opportunities
The increasing use of commercial drones in surveillance applications, precision agriculture, and aerial photography is enabling growth in the global commercial drones market. Videos and images captured by advanced drones provide high resolution and enhanced image quality, which is increasing their applications across various industries. Furthermore, with technological advancements high image and video format supporting TV and smartphones have come into emergence. Consumers of these devices demand high quality pictures, which can be captured by drones. This demand for high quality images are motivating players to manufacture drones with capabilities of recording high quality videos and images, with improved handling properties. The increasing competition and numerous products available are expected to reduce the product costs, further helping the market to expand.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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